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Jun 22, 2011
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johnson. kevin is a senior fell sexow director of economic policy studies at the american enterprise institute for public policy research. before joining a.e.i., he was a senior economist at the board of governors at the federal reserve system, an associate professor of economics and finance at the grass roots school of business of columbia university. he was a policy consultant at the treasury department during the george h.w. bush and clinton administrations. he served as an economic advisor to george w. bush 2004's presidential campaign. and as senator john mccain's chief economic advisor during the presidential primary. he also served as senior economic advisor to the mccain presidential campaign. he is a columnist for national review. he earned his ph.d. in economics at the university of pennsylvania. doctor, welcome. our fourth panelist today, chad stone, a chief economist at the center on budget and policy priorities, where he specializes in the economic snals of budget and policy issue
johnson. kevin is a senior fell sexow director of economic policy studies at the american enterprise institute for public policy research. before joining a.e.i., he was a senior economist at the board of governors at the federal reserve system, an associate professor of economics and finance at the grass roots school of business of columbia university. he was a policy consultant at the treasury department during the george h.w. bush and clinton administrations. he served as an economic advisor...
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Jun 30, 2011
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johnson, and your work. the reason why we wanted to hear from you is to hear from those who have had experience in this area and who may see it from a different view and give us a different slant of possible solutions that may help us in providing security our country needs. so i thank you very much for being here and helping us with your valuable information and the forward to continuing to work with you. >> thank you, sir, and we appreciate the opportunity to, as you say, bring a different perspective because our perspective is from where we sit each of us, and we are seeing a different angle on this, and we think both are valuable to you. certainly we appreciate the work q&a your committee are dng, and your staff. >> thank you very much. would like to thank you and our other witnesses here. it is clear to me thathe diplomatic security bureau has made great progress in meeting the demands of its expanding responsible of these. hover, or work remains. many of the concerns and recommendations discussed today
johnson, and your work. the reason why we wanted to hear from you is to hear from those who have had experience in this area and who may see it from a different view and give us a different slant of possible solutions that may help us in providing security our country needs. so i thank you very much for being here and helping us with your valuable information and the forward to continuing to work with you. >> thank you, sir, and we appreciate the opportunity to, as you say, bring a...
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Jun 13, 2011
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what has johnson vetoed and why? that was played out in the newspaper, in print on the radio every day. in a state that is two-one democrat, it is significant, have been rendered that many vetoes, having stood up and talked about government's role and the notion that the best government is the government that rules least, i got reelected by a bigger margin the second time than the first time. >> described the gary johnson brand of politics. are you republican, libertarian, a conservative? what the labels would you attach to yourself? >> i hate labels, but i think the majority of the people in this country describe themselves as fiscally conservative. 60% of americans describe themselves as fiscally conservative and socially liberal. i would change the socially liberal to classically liberal. in that sense, i might be someone who believe that the government rules the best is the government that rules the least. the best thing that government can do for me as an individual is to allow me to be the individual that i cho
what has johnson vetoed and why? that was played out in the newspaper, in print on the radio every day. in a state that is two-one democrat, it is significant, have been rendered that many vetoes, having stood up and talked about government's role and the notion that the best government is the government that rules least, i got reelected by a bigger margin the second time than the first time. >> described the gary johnson brand of politics. are you republican, libertarian, a conservative?...
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Jun 2, 2011
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daniel johnson. mr. johnson began as an assistant administrator for intelligence earlier this year. prior to that, he served in the united states air force. with 26 years' experience at the air force intelligence, surveillance, and recalls its -- and recognizance efforts, he is a seasoned staff officer. he also worked at the pentagon on the joint chiefs of staff as deputy director for joint requirements. that must be quite a business card when you have something like that. in that role, he provided intelligence support to the chairman of the joint chiefs of staff as secretary of defense. mr. johnson graduated from the air war college at maxwell air force base in alabama. he received a master of public administration from the university of oklahoma, a bachelor's degree in public administration from eastern connecticut state university. mr. johnson, you're recognized to summarize your testimony. thank you. >> ranking member spears, mr. chairman, thank you for allowing me to testify today. since coming on board this january i have had the opportunity to work closely with undersecretary
daniel johnson. mr. johnson began as an assistant administrator for intelligence earlier this year. prior to that, he served in the united states air force. with 26 years' experience at the air force intelligence, surveillance, and recalls its -- and recognizance efforts, he is a seasoned staff officer. he also worked at the pentagon on the joint chiefs of staff as deputy director for joint requirements. that must be quite a business card when you have something like that. in that role, he...
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Jun 23, 2011
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johnson. mr. snowbarger, throughout this process what kind of interaction was there between the auto task force and -- because you were heading the pension guarantee board then. throughout this process you were involved with the delphi and this process, so what kind of interaction took place between the two of you? is. >> in regard to general motors? >> in regard to both, delphi/general motors overall. >> my recollection was that very early in the process pbgc had a conversation with mr. ratner, i believe mr. bloom was invite today that meeting but was held up at another occasion, at which we discussed the consequences of a general motors failure on the pension system of general motorses and what the impact of that might be on the pension insurance system -- >> what discussion did they have with you relative to the hourly being topped off and not the salary? is. >> none. >> any, any comments, any correspondence that they gave you on that specific question? >> i don't recall any, no. >> okay. ranki
johnson. mr. snowbarger, throughout this process what kind of interaction was there between the auto task force and -- because you were heading the pension guarantee board then. throughout this process you were involved with the delphi and this process, so what kind of interaction took place between the two of you? is. >> in regard to general motors? >> in regard to both, delphi/general motors overall. >> my recollection was that very early in the process pbgc had a...
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Jun 2, 2011
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johnson. i'm grateful for your testimony. our next witness is james japaro who's the assistant director of intelligence for the united states immigration and customs enforcement. his public service includes 20 years experience most recently as deputy undersecretary for operations in the office of intelligence and analysis. else has served as the director of human smuggling and trafficking center. special agent in charge of the ice denver field office and held the position of interim director of immigration interior enforcement for ice upon the creation of dhs. before that time he worked with the immigration and naturalization service as deputy assistant commissioner for investigations, director of antismuggling and assistant director for investigations and special agent. he also holds a bachelor of arts degree in political science from california state university at long beach. you're now recognized to summarize your testimony. thank you. >> thank you, chairman meehan, ranking member spear and distinguished members, i'd like
johnson. i'm grateful for your testimony. our next witness is james japaro who's the assistant director of intelligence for the united states immigration and customs enforcement. his public service includes 20 years experience most recently as deputy undersecretary for operations in the office of intelligence and analysis. else has served as the director of human smuggling and trafficking center. special agent in charge of the ice denver field office and held the position of interim director of...
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Jun 17, 2011
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of the president whether it was president truman in korea, president wilson, world war i, president johnson, initially in vietnam, certainly president bush, the first president bush with the gulf war. people forget that when the president said he was going to reverse saddam's invasion of kuwait, it was 15% public support. this unhappiness and certainly the war weary after a decade rests heavily on all this, i think. the key is, how we complete our mission as we have largely done in iraq in a way that protects american national security interests and the american people and contributes to stability? most people would say we have been largely successful in that respect in iraq. i think we are on a path to do that in afghanistan. the cost of the war is huge. but it is declining. the cost of these workers will go down between f-111 and f y 12 by $40 billion. there is every reason to believe that between f y 12 and f y 13, there would be another significant reduction. with the lisbon agreement, the size of our forces left in afghanistan in december of 2014 would be a small fraction of what they
of the president whether it was president truman in korea, president wilson, world war i, president johnson, initially in vietnam, certainly president bush, the first president bush with the gulf war. people forget that when the president said he was going to reverse saddam's invasion of kuwait, it was 15% public support. this unhappiness and certainly the war weary after a decade rests heavily on all this, i think. the key is, how we complete our mission as we have largely done in iraq in a...
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Jun 22, 2011
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johnson who said that one of the things you're concerned about is a long-term implication of what we're doing. you're seeing that raise its head in the discount rate. in it could be higher than reported, since we took energy and food out, but businesses look at what we're doing and recognize that there is going to be inflation. businesses look at us and say, they're going have to print money in order to get out of this, never will be able to agree on tax cuts or increases, or spending cuts, and it will end up printing money. the discount rates that they are looking at are dramatically different that someone from an academic standpoint would. would you agree that by continuing to run up these dramatic deficits, we are discouraging investment in this country? is there anyone who disagrees with that statement? >> i agree completely, but in 2050, we have massive deficits much more than any other country. it is mostly due to uncontrolled health care spending. that is the primary driver. if you can fix that, you will be heroes whatever side of the political spectrum you come from. >> health c
johnson who said that one of the things you're concerned about is a long-term implication of what we're doing. you're seeing that raise its head in the discount rate. in it could be higher than reported, since we took energy and food out, but businesses look at what we're doing and recognize that there is going to be inflation. businesses look at us and say, they're going have to print money in order to get out of this, never will be able to agree on tax cuts or increases, or spending cuts, and...
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Jun 27, 2011
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who was a democrat, talked to my grandmother, who was a republican, and they were discussing lyndon johnson's great society program. it was my republican grandmother who gave an admonition to my father. she said to him, david, it will not be you who pays for all of these programs for the great society. it will be davy and michele, my older brother and myself, and now my grandmother's prediction has come true. i firmly believe that neither my democrat father, nor my republican grandmother, would have ever condoned the spending and the debt that america is in during today. i had not planned on getting into politics. i loved law. i went to law school. then i went on and became a tax lawyer. together with my husband, we created a successful small business and jobs for people in our area. and when i saw the problems in our local school district and how academic excellence was being eroded by federal government interference with the local schools, i decided i needed to do more than just complain. i decided that it was one of those i know of values that has been instilled in me, which was to always
who was a democrat, talked to my grandmother, who was a republican, and they were discussing lyndon johnson's great society program. it was my republican grandmother who gave an admonition to my father. she said to him, david, it will not be you who pays for all of these programs for the great society. it will be davy and michele, my older brother and myself, and now my grandmother's prediction has come true. i firmly believe that neither my democrat father, nor my republican grandmother, would...
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Jun 23, 2011
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johnson, is recognized for five minutes. >> thank you, mr. chairman. good morning. the democratically controlled congress passed the health care over all that was supposed to control health care costs and extend -- i would say these bills failed. do you think those efforts are enough -- >> will the gentleman yield? mr. johnson? >> why? i wanted to ask a question. >> go ahead. >> ask me a question? i will not yield. i want to know if those efforts are enough to solve the medicare problem or did we not get it -- or did we not get deep into it enough? >> we have a deficit in medicare, even if we assume the current law is sustainably implemented. i will cost or somewhat likely to be higher than what we share. we clearly have a remaining problem. >> notwithstanding that, the best estimates of the affordable care act are that they extended the life of the trust fund and where the affordable care act to be repealed, the date at which the trust fund would become 24pleted would move from 20002 to 2016. >> i recognize you are phd. you consult with medical doctors? do they tal
johnson, is recognized for five minutes. >> thank you, mr. chairman. good morning. the democratically controlled congress passed the health care over all that was supposed to control health care costs and extend -- i would say these bills failed. do you think those efforts are enough -- >> will the gentleman yield? mr. johnson? >> why? i wanted to ask a question. >> go ahead. >> ask me a question? i will not yield. i want to know if those efforts are enough to...
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Jun 24, 2011
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johnson. thank you, mr. chairman. the president just can't win on this one is going to have one's i've seen that you are withdrawing too many troops at a time when we need to have done stay the course. on the other side you're going to have folks they look, we're tired of war. when the troops home. osama bin laden has been neutralized. let's close the door, bring troops home and put all the money into reducing debt. so the president just cannot win. there is another way. first of all, at the mall and its secretary flournoy, i appreciate you all being here today. i want everyone to remember that president was clear in its 2008 campaign, he said he would drive down u.s. versus from iraq and he pledged to refocus on the neglect to cooler in afghanistan. he's made good on both of those commitments. in the spring of 2009, we had 130,000 troops on the ground in iraq. we now have 61,000 on the ground with morley being every day. by the end of this year, will have less than 130 department of defense boots on the ground in ira
johnson. thank you, mr. chairman. the president just can't win on this one is going to have one's i've seen that you are withdrawing too many troops at a time when we need to have done stay the course. on the other side you're going to have folks they look, we're tired of war. when the troops home. osama bin laden has been neutralized. let's close the door, bring troops home and put all the money into reducing debt. so the president just cannot win. there is another way. first of all, at the...
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Jun 29, 2011
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even though when president johnson signed medicare into law he made clear that the intention was the government would pay half the cost and the beneficiaries would pay the other half. we will provide a three year sgr designed to bring stability to the medicare provider system. the sgr is in need of a permanent fix. three years should be enough to come up with one. fast going to include the act introduced by senator coburn and others to root out waste and fraud. we know that each part of our proposal will make some group of people unhappy. we will provide an easy target for attacks by those who understandably want to preserve the status quo. but the status quo only leads to the collapse of medicare and fiscal disaster for our country. we're past the point when we can save medicare and cut the debt while keeping all of the interest groups satisfied and all of our constituents happy. if there ever was a time in history for elected officials to stop thinking about the next election and start thinking about the next generation, it is now. i am pleased to have worked with tom coburn of thi
even though when president johnson signed medicare into law he made clear that the intention was the government would pay half the cost and the beneficiaries would pay the other half. we will provide a three year sgr designed to bring stability to the medicare provider system. the sgr is in need of a permanent fix. three years should be enough to come up with one. fast going to include the act introduced by senator coburn and others to root out waste and fraud. we know that each part of our...
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Jun 28, 2011
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then there are size caps, and my peterson colleague, simon johnson, has been a big fan of those. but they were voted down in the, recall, in the brown-kaufman amendment to dodd-frank, rather decisively in the senate. and if you think of those as nicholas and i showed in a recent paper, they would have to be vastly different for europe and for the u.s. if you take the combined assets to the three largest banks in the u.s. to gdp, 2009 it's about 40%. if we take that same computation for european countries, it's somewhere normally between about 140% to over 400%. so you couldn't have that. the only bright spot i would say is basel iii is men mum standards -- minimum standards, and you could impose much more than the minimum on a national basis. some people say that's just not possible because of competitive factors. but then i say, well, look at switzerland, you know? they came in with a report recently. they had motivation. ubs lost 12% of risk-weighted assets during the crisis. they're in for 19% capital including 10% equity, common equity and the other 9% in contingent bonds. so
then there are size caps, and my peterson colleague, simon johnson, has been a big fan of those. but they were voted down in the, recall, in the brown-kaufman amendment to dodd-frank, rather decisively in the senate. and if you think of those as nicholas and i showed in a recent paper, they would have to be vastly different for europe and for the u.s. if you take the combined assets to the three largest banks in the u.s. to gdp, 2009 it's about 40%. if we take that same computation for european...
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Jun 3, 2011
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walking around with millions of dollars he has to spend, so we have trained just like lyndon baines johnson believed you could have a long party in great society and cause chaos by doing so we said we do everything for you. therefore if you get the risk/reward. the general is proposing that he has a plan for the next three and a half years, three and a half more years at $100 billion a year from 100,000, 80,000, can we do all that? sure, we can. the issue becomes risk reward do we want to do that? are there other strategies and i think that we will see interesting month next month when the president versus the amount of money we have and the treasurer and soldiers and marines and asks is this the only way to go, and the alternative i think is quite clear we bear a very heavy adviser force which is recommended, and i say that for two reasons. the taliban aren't that great a track we are trying to keep them from taking over the country, fine. how do you take a free country? how do you take over the country? they had a lot of help from pakistan in terms of logistics. to dillinger in big city y
walking around with millions of dollars he has to spend, so we have trained just like lyndon baines johnson believed you could have a long party in great society and cause chaos by doing so we said we do everything for you. therefore if you get the risk/reward. the general is proposing that he has a plan for the next three and a half years, three and a half more years at $100 billion a year from 100,000, 80,000, can we do all that? sure, we can. the issue becomes risk reward do we want to do...
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Jun 3, 2011
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too many people on too many occasions, too many big government promises, still worried about lyndon johnson's war on poverty, how many trillions of dollars later and that hasn't worked out. we in the new constitutional conservative majority are committed to getting us back on track to a balanced budget. we recognize the scale of the problem, the urgency of the impending, these unfunded liabilities. this massive bill that's going to come due to our children and grandchildren. that is a -- in fact, the joint chiefs of staff do an analysis about every five years on the strategic threats facing the united states and analyzing all the threats facing our nation, the joint chiefs concluded that one of the greatest threats to america's strategic, one of the greatest stratenalic threats america faces, is our national debt. this unfunded liability, these crushing obligations that our kids are going to inherit if we as a congress don't work as we have on this subcommittee in a way without regard to party for the benefit of the nation to find ways to make sure that social security, medicare are solvent t
too many people on too many occasions, too many big government promises, still worried about lyndon johnson's war on poverty, how many trillions of dollars later and that hasn't worked out. we in the new constitutional conservative majority are committed to getting us back on track to a balanced budget. we recognize the scale of the problem, the urgency of the impending, these unfunded liabilities. this massive bill that's going to come due to our children and grandchildren. that is a -- in...